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EURO-STERLING
EURO-STERLING: Little EUR/GBP reaction to BBG headlines suggesting that the EU
is set to state that the extension to the Brexit transition period will depend
on the UK's conduct. This comes after earlier reports suggested that EU's
Barnier is set to propose an extension of the transition agreement out to 2022.
- Rate last GBP0.8889. Friday's rally allowed bulls to take out both the 100-DMA
and down trendline resistance from the Aug 28 peak, shifting the outlook
positive. The next upside target comes in at the Oct 30 high at GBP0.8940. Bears
need to push back below the 100-DMA at GBP0.8882 to challenge the 55-DMA
GBP0.8848 & 200-DMA at GBP0.8835.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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